Policy

NAPIMS denies mismanaging USD11 million
Policy

NAPIMS denies mismanaging USD11 million

In response to allegations that it spent USD9 million on staff transfer and another USD2 million to vehicles maintenance, the National Petroleum Investment and Management Services, NAPIMS has denied such allegations. NAPIMS in a statement issued through the NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu said the […]

Policy

Fitch retains B+ ratings on Lagos, outlook still negative

Lagos, Nigeria’s commercial capital has one more thing to worry about as Fitch maintains its B+ ratings still with a negative outlook. In a ratings opinion released by Fitch affirmed Lagos State’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘B+’ with Negative Outlook and Short-Term Foreign Currency […]

SEC lifts suspension on Heritage Capital Markets
Policy

SEC lifts suspension on Heritage Capital Markets

Close to three months after it announced a suspension on Heritage Capital Markets, the Nigerian Securities and Exchange Commission said it has lifted a ban on the company. In an official statement released by the Commission: “The Securities and Exchange Commission on Wednesday February 1, 2017 lifted the suspension of […]

CBN wants all banks to comply with ISA 701
Policy

CBN wants all banks to comply with ISA 701

The Central Bank of Nigeria has charged all banks to ensure that comply with ISA 701 an international audit standard. The Nigerian apex bank in a communique to all banks and their external auditors highlighted Rule 9 (Application of International Standard on Auditing (ISA) 701 – Communicating Key Audit Matters in the […]